(1) If the FCA receives a report from a recognised investment exchange informing the FCA of -
(a) significant infringements of the exchange's rules;
(b) disorderly trading conditions;
(c) conduct that may indicate behaviour which is prohibited under the market abuse regulation; or
(d) system disruptions in relation to a financial instrument;
on, or related to, a trading venue operated by the exchange, the FCA must communicate that information to ESMA and the competent authorities of all the other EEA States.
(2) But where the report informs the FCA of conduct that may indicate behaviour which is prohibited under the market abuse regulation the FCA must be satisfied such behaviour is being, or has been, carried out before it communicates the information to ESMA and the competent authorities of all the other EEA States.